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~Madness~ 
...The Cat...
Joined: 29 May 2001
Location: Melbourne, Vic, Au
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| Gazza05 wrote: | .
What in gods name are you buying a brand new $50,000 car for ? |
Exactly. One isn't enough?
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"whaaa whaaaaaa! |
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PeterWH 
www.peakhillfm.com.au
Joined: 20 Oct 2001
Location: back home after travelling around Australia
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Just for the records,both my wife & I went to see our financial adviser at Westpac yesterday and we were advised that even though we are both on a DSP and that we have both retired,on the current calateral of our home,which we own,that we could borrow $50K againt the value.
Gazza 05 I am afraid that if you were loking at my finances,I would ask for some one higher.
Any way Dale just wanted to let you know,BUT we decided not to go ahead with this,BUT we were just enquiring!!!!
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PeterWH VK2FPHR Membership No.248693
PIES FOR PREMIERS.... YEAH WHEN!!!
We missed 2002 to 2009,BUT 2010 was OUR YEAR.. WATCH OUT 2018 here we come.We hope!! |
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Gazza05 
BRING ON SEASON 2010
Joined: 10 Jun 2006
Location: Warrnambool
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| PeterWH wrote: | Just for the records,both my wife & I went to see our financial adviser at Westpac yesterday and we were advised that even though we are both on a DSP and that we have both retired,on the current calateral of our home,which we own,that we could borrow $50K againt the value.
Gazza 05 I am afraid that if you were loking at my finances,I would ask for some one higher.
Any way Dale just wanted to let you know,BUT we decided not to go ahead with this,BUT we were just enquiring!!!! |
So what your telling me is they didn't take into account your ability to repay the loan. Good lending practices....Unless they were going to do a Reverse Mortgage which can be done for retired persons with some banks.
If not good luck to you.
Also you have no idea what my role is in this Bank. You may be surprised where over 22 years of Banking experience can get you.
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ITS NOT MY FAULT BLOODY JONATHON BROWN COMES FROM WARRNAMBOOL !! |
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Proud Pies 
Joined: 22 Feb 2003
Location: Knox-ish
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| Gazza05 wrote: | | PeterWH wrote: | Just for the records,both my wife & I went to see our financial adviser at Westpac yesterday and we were advised that even though we are both on a DSP and that we have both retired,on the current calateral of our home,which we own,that we could borrow $50K againt the value.
Gazza 05 I am afraid that if you were loking at my finances,I would ask for some one higher.
Any way Dale just wanted to let you know,BUT we decided not to go ahead with this,BUT we were just enquiring!!!! |
So what your telling me is they didn't take into account your ability to repay the loan. Good lending practices....Unless they were going to do a Reverse Mortgage which can be done for retired persons with some banks.
If not good luck to you.
Also you have no idea what my role is in this Bank. You may be surprised where over 22 years of Banking experience can get you. |
Yep, the Reverse Mortgage was going to be my guess for someone on DSP.
Getting sick of Peter's personal attacks on people.
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Jacqui © Proud Pies 2003 and beyond |
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PeterWH
www.peakhillfm.com.au
Joined: 20 Oct 2001
Location: back home after travelling around Australia
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What I am saying Gazza05 is that banks have different protocol that they abode by.
I can assure you that St.George wouldnt lend me money against my home in Sydney when I was employed as a Contract ourier Driver,due to the fact that my weekly wage was unstable,BUT due to the fact that my wife even back then had a Westpac account,she approached them and was told YES we would have a look at it.....so it appears to me that different banks have different protocol.
Up here in rural NSW,we approached our financial adviser just as an experiment two days ago,and our Westpac adviser told both of us that YES we could get a loan on the equity of our home,regardless that we were both on a DSP and that we were getting otgher benefits and YES we could afford to pay back the $300 per month without any problems.Yopu see Gazza 'we own our own home' and dont have a mortgage.
Also PP I have no intentions of getting into a 'BUN FIGHT' but if I know that I am correct about something and I am a hell of a lot older and wiser than you,then I will tell people that they are wrong,its the same that if people tell me I am wrong then I take it on the chin...it appears that you have alot of growing up to do....I have been there done that seen it all before......If yoyu dont like the way I have a go at people well I suggestr that you keep it to yourself...if some one is incorrect or wrong then its a FREE democratic country and they should be able to take it on the chin........
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PeterWH VK2FPHR Membership No.248693
PIES FOR PREMIERS.... YEAH WHEN!!!
We missed 2002 to 2009,BUT 2010 was OUR YEAR.. WATCH OUT 2018 here we come.We hope!! |
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Gazza05
BRING ON SEASON 2010
Joined: 10 Jun 2006
Location: Warrnambool
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That may be the case of having different policies.
From my experience after working for two Banks, they have used the same methology of ability to repay loan. My mother for example is on a pension and owns her property outright so wouldn't be able to repay a loan under our system,. But through the Commonwealth Bank she can get finance through a Reverse Mortgage using the equity on her home(under their normal loans she wouldn't qualify). When she dies the debt will be taken out of the Balance of her estate.
So I do understand....With Dale's situation I'm guessing it would be different with no mention of any property etc and age factor. But I'm just guessing as I don't have full details.
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ITS NOT MY FAULT BLOODY JONATHON BROWN COMES FROM WARRNAMBOOL !! |
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WhyPhilWhy?
WhyPhilWhy?
Joined: 09 Oct 2001
Location: Location: Location:
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| PeterWH wrote: | | I have no intentions of getting into a 'BUN FIGHT' |
Yep, that's obvious
| PeterWH wrote: | | ...I am a hell of a lot older and wiser than you |
How could you possibly know that Peter?
| Quote: | | If people tell me I am wrong then I take it on the chin... |
Well, again, obviously. |
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Dale61
You can't have manslaughter without laughter.
Joined: 17 Apr 2002
Location: /home/room/chair
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I posted yesterday that the finance fell through, and now the deal is off.
This thread can now be closed.
BTW, Gazza, how much would I get from your bank if I put my Housing Commission home up for mortgage?
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Whale
Oil
Beef
Hooked |
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Gazza05
BRING ON SEASON 2010
Joined: 10 Jun 2006
Location: Warrnambool
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| Dale61 wrote: | I posted yesterday that the finance fell through, and now the deal is off.
This thread can now be closed.
BTW, Gazza, how much would I get from your bank if I put my Housing Commission home up for mortgage? |
Gidday Dale,
PM me if you like...But as I said with us you would have to show how you would make payments on the loan much the same as the institution that you sort finance through. It doesn't matter what security you have if we can't prove that you can meet the loan repayment then we can't approved the loan. Maybe try Westpac as Peter stated to see if his sceanario works
The Reverse Mortgage is restricted to generally people over 60 to 65 years of age who are asset rich but income poor. Our Bank doesn't do these types of loans as yet (they are being trialled as we speak). But I know the Commonwealth Bank does.
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ITS NOT MY FAULT BLOODY JONATHON BROWN COMES FROM WARRNAMBOOL !! |
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